Slobodan Drvenica
Windsor Brokers
EURUSD
Strong bullish acceleration surged above 1.1529 barrier (weekly Ichimoku cloud top) and probes above 1.1600 (round-figure resistance), as the way opens towards key med-term barrier at 1.1712 (24 Aug 2015 peak / top of year-long consolidation range).
Upper boundary of bull-channel from 1.0519, Dec 2015 low at 1.1620, has been tested so far.
Firm bullish structure supported strong rally off 1.1213 (25 Apr low), which entered the seventh straight day of rally and so far shows no signs of fatigue, despite overextended daily slow Stochastic and daily RSI approaching overbought territory.
However, corrective easing ahead of 1.1712 target, could be anticipated, with former barriers, now offering good supports at 1.1515/1.1465 and extended dips expected to hold above 1.1400 support.
Res: 1.1620; 1.1650; 1.1712; 1.1810
Sup: 1.1540; 1.1515; 1.1465; 1.1400
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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